The Hyatt Place Austin hotel in Round Rock has been purchased by Noble Investment Group, according to a news release.

"The 138-room hotel was developed in 2017 in Round Rock, a prominent northern artery of Austin, one of the strongest real estate markets in the country," Noble said in a news release.

"The Hyatt Place Austin | Round Rock is located in the vibrant mixed-use development, La Frontera, surrounded by more than two million square feet of Class-A office and retail," the news release said. "Major employers proximate to the hotel include the Dell World Headquarters, Houghton Mifflin Harcourt, Trellis Company, Kalahari Waterpark Resort and Convention Center and Emerson Automation Solutions. Round Rock is also known as the sports capital of Texas, playing host to the largest youth and recreational sports tournaments for athletes worldwide."

Austin is one of the fastest growing cities in the United States, Noble said.

"Austin is considered one of the nation's dominant tech hubs alongside Silicon Valley, with numerous high-profile corporate relocations and expansions from companies like Tesla, Oracle, Apple, Amazon, Google and Facebook," it said. "Austin ranks No. 1 on Inc.'s list of America's top cities  or technology businesses and No. 1 on CompTIA's list of Best Tech Cities for IT Jobs. A rapidly intensifying corporate market, longstanding demand from the state government, the University of Texas, and world-class entertainment destinations, make Austin a prominent growth market."

Noble, based in Atlanta, was founded in 1993. It is is "a minority-owned real estate investment manager with a diverse team specializing in the upscale U.S. lodging sector," the news release said. "Through its institutional real estate funds, Noble has invested $4 billion in communities throughout the country, adding value across cycles and creating thousands of jobs."